Whenever looking for a house for sale in the UK or in Buchany, it is vital you look at the market trends and house price fluctuations in the wider area of Stirlingshire too. House prices of houses for sale can change even among different streets very close to each other so, as a landlord, it would be a good idea to be familiar with the area of Buchany.
In this article, we will be looking at the city of Buchany in detail so you know how to navigate the area and have a better understanding on where to invest.
In Buchany, what do houses for sale tend to sell for?
As well as looking at the asking price for house for sale in Buchany, a sensible homeowner or investor will also consider the final price a house sells for. This final price may be influenced by elements like the amount people are earning in the area and what opportunities for employment there are in Buchany.
Houses for sale, are sold on average in Buchany, after the influence of these factors, at £210,389 as a result. And may be on the rise or decline depending on a combination of variables such as the crime rate, or population growth which was 5% over the last 10 years.
|Housing category||Total final sale price|
|Aerage sold price (detached)||£313,228|
|Aerage sold price (semi-detached)||£180,521|
|Aerage sold price (terraced)||£182,559|
|Aerage sold price (flat)||£98,652|
This table above shows the average sale price for each variation of houses for sale in Buchany.
|Housing category||Sale price per square foot|
|Aerage sold price/sqft||£1,920|
|Aerage sold price/sqft (new build)||£1,700|
|Aerage sold price/sqft (old stock)||£1,910|
This final table looks at the price per square foot of houses for sale. Looking at the final table, you can take a further average and conclude that the average price per square foot of houses in general in Buchany is £1,920.
This statistic can be used to compare the price of housing between housing categories again or even compare the price for a different city.
Why you should consider the average rental yield when searching for houses for sale in Buchany
The figure of rental yield is commonly looked at by investors who wish to increase their income by investing in areas where rental yields of the houses for sale are higher. Usually, the higher the rental yield, the more attractive a house for sale is for an investor.
Nonetheless, there are also instances where an investor will go with a house with lower yields in order to benefit from the appreciation of a house too which is why it’s vital to look in to all the details of Buchany.
The data below shows the rental yield, rent turnover and the percentage of the money made on the sale of a house. The data is broken down into the county city is in (Stirlingshire) as well as the broader region; Scotland.
|Average Yield||Average Asking rent||Turnover (rental)||Turnover (sale)|
|Buchany||no relevant data for this city||no relevant data for this city||no relevant data for this city||92.0%|
Also, you can compare other data to the table above such as the number of houses sold per month in Buchany which is 4 and get a better understanding of the housing market.
This is great if you want to gauge if investors are actively looking for houses for sale in the area over other areas in the UK which may be an induction of how profitable Buchany is to invest in. Both in terms of rental yield and capital appreciation.
What is the growth in the housing market of Buchany?
Before making an investment and move forward with buying a house for sale, another important set of data an investor should analyse is the growth trends of the area in question.
Below are the forecasted growth rates for the city of Buchany at 1 year, 3 year and 5 year intervals:
|1 year||3 years||5 years|
|Buchany growth rate||no relevant data for this city||41%||no relevant data for this city|
Examine this figure carefully as the addition of a lot of new houses to meet demand could mean that house price of the houses for sale in Buchany gradually reduces with an increase in the housing supply. This could be a good indicator to understand if your house will appreciate or not. Too many houses and too much supply could drive down the prices of homes or stagnate them. So be sure to check out what is exactly happening in Buchany.
What are the people like in Buchany?
In the city of Buchany, has the population grown or shrunk?
The city of Buchany has a total population of 1,934. Large population sizes can be good to show there is a high demand for people to buy houses in the area but a better indication is if the population of Buchany is growing.
A small population city can also have high prices of houses for sale, because, if there is a growing population, and demand is still high, this could mean the house prices are pushed up.
Either way, a population must also be looked at in terms of the appreciation of the area as well as the rental yields and if the area really meets your needs.
The five year population change of Buchany
Over time, in the last five years, the population of the city of Buchany has changed by 1%. This figure can tell you a lot because a growing population indicates a house is likely to appreciate. Read more here
In addition, looking at the 10 year figure for population growth in the below paragraphs can give you further evidence as to what the change in population has been for a longer period of time. As a result, you’ll know if this 1% population change is something that has been there for a while or if it is a new trend. Click here to know more on the UK population trends.
What is the difference in population over the last 10 years in Buchany?
In the last 10 years, there has been a shift in the population of 5%.
Comparing this to the 5 year figure of Buchany can tell you if there is a long history of population growth or decline, if there are population fluctuations or if the trend is stable.
New industries opening up in the area, the addition of new jobs and also international and national migration might all be reasons for changes in population size. Resulting in people moving in or leaving an area.
A good example of a quick change in population was in Stratford, London in 2012. Here, there was an increase in government spending in the area because of the Olympics which resulted in massive population growth.
How deprived is the population of Buchany?
The deprivation levels of the UK can vary quite a bit. High deprivation levels signal a particular area has people who are struggling to make ends meet and pay for basic living expenses. For Buchany, in particular, the deprivation levels are no relevant data for this city.
This figure can be contrasted with the deprivation levels of the UK of 33% to see if the levels are below or above average.
For the city of Buchany, what is the education level?
In the city of Buchany, no relevant data for this city people have a degree from a university. The higher this proportion is, in general, the more likely it is that the population is able to buy a house.
Interestingly, as people who have degrees go up, the average income of the area goes up too. You can see if there is a correlation, the average household income in the UK is price34,000 and the average income in Buchany is no relevant data for this city.
This should correspond with the average percentage of people in the UK who have degrees at 22.6%.
What is a social grade score and how does this relate to Buchany?
Most of the time, the social grade score of a city is what it takes to determine what the economic levels are like as this score refers to what type of jobs the people of the area generally work as. So, from highly skilled, managerial roles, to the manual labour workers of the UK, how does Buchany compare?
At the highest end of the scale (A) jobs that are managerial administrative or professional are all lumped into this category. On the other hand, there is the lowest grade (E) where workers who are on benefits, state pensions or work casual jobs fall into.
In Buchany, the percentage of people who work in the two highest skilled categories of this scale (A and B) is no relevant data for this city.
So you can compare this data, here is the estimated grouping of the social grades of the UK for the general population. Adding the two highest categories of A and B and comparing this percentage to the high social grade score which combines A and B should give you a good comparison.
|Social Score||Category||The proportion of the UK population (%)|
|A||Professional, managerial or administrative||4|
|B||Intermediate managerial or professional jobs||23|
|C1||Supervisory, junior managerial or professional jobs||29|
|C2||Skilled manual workers||21|
|D||Semi and unskilled manual workers||15|
|E||State pensioners, casual & lowest grade workers||8|
What salary does the community in Buchany take home?
While not always the case, the amount people earn can be associated with better schools in the area and perhaps a nicer environment to live in.
no relevant data for this city is the average household income of the area. And the higher this figure is the more likely it is that there is a higher percentage of people with a social grade score in the A or B categories which is no relevant data for this city for Buchany.
In Buchany, what is the crime rate?
For every one thousand people living in Buchany, no relevant data for this city commits crimes and are prosecuted. Coming to a conclusion as to whether all the other factors of your house purchase like the house price justify this figure when contrasting it with the UK average of 79.52 is something you should do as a homeowner.
It could be that the crime rate is higher than you expected but there it is worth the population growth, appreciation of the house and worth the relative price you are purchasing the house for.
Nonetheless, the crime rate of no relevant data for this city is not a statistic that should just be ignored as you could have to pay more for things like home insurance and install additional security on your house if the rate is particularly high.
Either way, burglaries are not something you would want to encounter in a house. Whether that be a house you are living in or a house you are renting out to tenants.
Do the people of Buchany get to enjoy green space?
In the city of Buchany, there are 12.6 acres of green space per 1000 residents.
The charity, ‘Fields in Trusts’ recommends a minimum of 6 acres of green space per 1000 people so it is easy to see where Buchany is when seeing if green space availability is sufficient. This green space could be parks, nature reserves, public gardens or playing fields.
In the city of Buchany, the demographics are unique and must be looked at by themself to make a conclusion about the area before buying a house. This is because the growth could be greatly different to the wider area of Stirlingshire for example.
These demographics for Buchany may impact the price of a house, how this house grows over time and the profitability of a house if you are buying it for an investment so knowing the area is crucial for a landlord making a purchasing decision in the city of Buchany in Scotland.
What is the asking price on average of houses for sale in Buchany?
On average, in Buchany, the asking price for a house for sale in the area is £247,462.
The below table puts this figure into perspective as you can see the various average sale prices of the different type of houses for sale in Buchany. From a 1 bedroom house up to a 5 bedroom house.
As you can imagine, as the price goes up, the size of a room also goes up and in general, the larger a house is, the more you can expect the sale price to be as well.
Average asking prices for houses for sale in Buchany
|Average asking price (1 bed)||no relevant data for this city|
|Average asking price (2 bed)||no relevant data for this city|
|Average asking price (3 bed)||no relevant data for this city|
|Average asking price (4 bed)||no relevant data for this city|
|Average asking price (5 bed)||no relevant data for this city|
The tables should give you a generic view of what the prices of the houses for sale are like. To close things off in terms of the house asking price, the average asking price for the house for sale in the whole of Buchany is £0. This should show you the general prices overall and for individual types of houses too.
Professional advice for houses for sale in Buchany
Thinking about other cities with houses for sale?
See here below a list of cities in the same UK region of Buchany which is Scotland. You might want to consider these as alternatives for your next real estate investment:
- Armadale in Scotland
- Aberdour in Scotland
- Buchany in Scotland
- Blyth-Bridge in Scotland
- Kilbirnie in Scotland
Or, visit our dedicated page on the houses for sale data for the whole of the UK – houses for sale in the UK.
Who should you talk to while going through the process of making an offer on a house for sale?
Several experts specialise in giving advice to property investors or to first time potential buyers.
Since the process of finding the right house for sale can take months, you have all the time to consult with the experts you might need.
Find here a list of those you should contact to get professional guidance and assistance when purchasing a house for sale:
- Lender – This practitioner can lend you money to finalise a house purchase
- Insurer – Insuring companies will provide you with the insurance policy you need to protect the house for sale you want to buy
- Legal representative – This professional is usually there to handle all the legal tasks associated with purchasing a home for sale.
- Surveyor – Carries out and independent valuation on the house for sale based on its conditions. It is very useful to understand the correct price before making an offer
- Mortgage specialist – Mortgage advisors works on commissions. They will get a cut from the bank and will guide you with offering the best deals given your financial situation
- Energy assessor – We strongly suggest you to invest in a professional assessment of the Energy Performance of the house for sale you want to purchase
A house for sale that is right for you
When browsing houses for sale in Buchany you should think about lots of different criteria:
House for sale affordability – visit the dedicated page of the UK government to understand (see what you can afford)
Location of the house for sale – the region and town you are considering to live in are crucial factors to consider before looking for houses for sale. In this article, we define lots of demographic factors that should help you make a decision.
House for sale transport links – even if working from home is becoming more and more predominant, we suggest you check the transport links the house for sale has.
Number of bedrooms in the house for sale – are you looking for houses for sale for the whole family or are you single? Always think about how many bedrooms you need and if that number might change in the future
energy performance of the house for sale – What is the EPC of the house for sale? Today more than ever, is important that you check the EPC rating of the real estate assets available for sale on the market.
Internet speed in the area of the house for sale – is important to remember that internet speed is a consequence of two factors: your plan and the infrastructure available in the area. Always check these parameters before looking for houses for sale
Does the house for sale have parking – if yes, is it on-street or is the house for sale equipped with a garage?
Houses for sale in conservation areas – always check the National Heritage list. If a house for sale is part of this list it means that it might be impossible for you to make changes to the property’s internal and external structure.
Houses for sale Conditions – some properties, like new builds, need no repairs or works; other houses listed for sale may need some investment to restore them and some others may need a complete renovation. Someone looking for houses for sale should always think about how much time and money they are willing to invest to complete the needed repairs.